KuCoin announced that it will drop Bitcoin Cash from it’s platform. KuCoin is a relatively new exchange that has made a name for itself in a market dominated by renowned giants such as Binance, BitTrex, and Kraken for example. Based in Hong-Kong, its main competitor is no less than the world’s largest Exchange regarding 24-hour volume, yet KuCoin’s confidence continues to grow.
Late last year, KuCoin decided to add BCH as one of its trading pairs, creating a wider range of options for traders to speculate with, also contributing with the promotion of the famous currency backed by industry giants such as Roger Ver, Jihan Wu, and John McAfee.
However, it seems that Bitcoin Cash did not have the acceptance they expected, as on March 26th KuCoin announced an update of their platform eliminating all currency pairs and transactions with Bitcoin Cash.
The platform update also affected other pairs, some of which have been characterized by poor adoption. The delisted pairs are:
BCH：All trading pairs FOTA/BCH, KCS/BCH, DENT/BCH, ACT/BCH, UTK/BCH, DAT/BCH, and XAS/BCH
KCS：DASH/KCS, CAG/KCS, MOD/KCS
- /USDT, TEL/USDT, FOTA/USDT, OCN/USDT, TNC/USDT, ETC/USDT
- /NEO, QTUM/NEO, ACAT/NEO, FOTA/NEO, BCH/NEO, DENT/NEO
To date, there has been no further information on the reasons for this decision. The company has not issued any further official statements on the matter, and the official forums have remained fairly quiet. However, a review of KuCoin’s trading data from shows the pairs traded using BCH were among the least popular.
According to data offered by CoinMarketCap, BCH operations did not represent even 1% of the company’s total exchanges, so it could be said that it was not worth keeping it as a currency pair. Of the nearly $47.5 million, only 105K went through BCH, representing 0.21% of the total.
The company has assured that users will not lose their money. However, the team has not stated how they will reimburse the BCH to the few users who operated with it.
So far, BCH has been stable between $900 and $1050.